The company reported net profit of $13.06 billion on revenue of $46.33 billion ($13.87 per diluted share). Profit for fiscal Q1 2012 was more than double that of fiscal Q1 2011, while gross margins came in at 44.7 percent compared to 38.5 percent a year ago.

“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Apple CEO Tim Cook. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

As for product sales numbers, Apple sold 37.04 million iPhones during the quarter (a 128 percent increase) and 15.43 million iPads (a 111 percent increase). The company's Mac sales also saw an increase, but "only" saw a 24 percent increase year-over-year to 5.2 million units.

Apple iPods, however, continue their downward spiral in this age of digital convergence. Sales of the portable music players were down 21 percent to 15.4 million units.

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Comparing revenue if you're trying to determine which company is bigger makes even less sense than comparing market cap. If you're selling/buying a company, you would probably want to consider things like: Samsung's total assets of $343.7 billion, which is roughly 3X Apple's assets. Samsung is a MUCH bigger company than Apple, and before you get defensive: that alone doesn't make Sammy "better" or "worse" than Apple or say anything at all about the qualities of either company's products.

Don't worry about Tony, he doesn't understand how the asset/equity paradigm works.

Let's take a look at real world value:

Apple

Apple's total assets are only $116 billion of which around $80 billion is liquid investments and another $36 billion or so in physical assets. The money Apple makes off this invested money is included in it's financial results. At the same time, Apple is servicing around around $40 billion (best guess based on equity statements) in loans and so the companies immediate mark to market cash value on the open market is around $40 billion if you were to buy it and liquidate it.

Samsung

Samsung has a total asset value of $343 billion of which only around $50 billion is tied up in liquid investment (again, best guess from equity statements). The remaining $293 billion is invested in physical assets, such as dry docks, factories, silicon fabs, equipment, etc. Samsung is also servicing around $200 billion in debt and results in a mark to market cash value of around -$150 billion if liquidated.

This makes Apple a FAR more attractive takeover target for Samsung than Samsung would for Apple. Any buyer could use Apple's own cash on hand to pay off most of the purchase price and all of the companies outstanding debt.